The famous Somerset tourist attraction Wookey Hole Caves has expanded its business with the purchase of its second caravan park.
Wookey Hole Ltd has bought Homestead Caravan Park in Wells – a residential park with campsite and holiday lodges. Stephens Scown LLP advised Wookey Hole Ltd on the six figure deal and funding came from Handelsbanken.
The move comes just over a year after Wookey Hole bought Bucklegrove Holiday Park in the Cheddar Valley – a 7 acre mixed holiday park. The site has been extensively upgraded and business has doubled since Wookey Hole bought the site.
Wookey Hole is a popular tourist attraction with over 20 attractions, including the famous caves, a 4D cinema, circus shows and a mirror maze. The business also runs a 58 bed hotel and 10 lodges at its Wookey Hole site.
Daniel Medley, managing director of Wookey Hole Ltd said: “The success of Bucklegrove Holiday Park showed us the potential this sector has for us. At our busiest times we have 1,400 guests a night staying with us across our resort. Homestead Caravan Park is a great fit for us, as the site is right beside us in Wells. We have plans to develop it by adding more lodges. We will also be looking to add to our portfolio of holiday parks in the Somerset area as opportunities arise over the coming years.”
Commenting on the performance of the business as a whole Daniel added: “Last year was our best yet and despite the snow bringing challenges earlier this year, we have had a great Easter and look forward to a busy summer. Our aim is to provide affordable days out and affordable quality accommodation for families – and staying true to that market is working for us.”
Toby Pool, partner and head of leisure and tourism at Stephens Scown LLP said: “We supported Daniel and his team in the purchase of Bucklegrove Holiday Park, and have enjoyed being part of the expansion of this flourishing tourism business. The purchase of Homestead Caravan Park was fairly complex and it is great to see the deal reach a successful conclusion.”
Andrew Mitchard, Corporate Manager at Handelsbanken said: “We have now supported Wookey Hole with both the acquisition of Bucklegrove Holiday Park and more recently Homestead Caravan Park. Wookey Hole is one of Somerset’s oldest and most popular tourist attractions and we are delighted to be able to continue to support the company through this exciting time.”
Photograph shows (left to right): Toby Pool from Stephens Scown and Daniel Medley from Wookey Hole at Homestead Caravan Park in Wells
Acting here on a number of holiday park acquisitions on behalf of park operators.